Wall Street gains on hopes for "fiscal cliff" deal

NEW YORK (Reuters) - Stocks rose in volatile trade on Wednesday after comments from the top Republican in Congress on a possible compromise to avoid the "fiscal cliff" turned the market on its head.

House Speaker John Boehner, an Ohio Republican, said he was optimistic that a budget deal to avert large tax hikes and spending cuts currently under discussion in Washington could be reached. President Barack Obama, speaking later in the day, said he hoped to get a deal done in the next four weeks.

"The fiscal cliff is dominating the discussion, and short term, we're a little bit too optimistic on it being fixed right away," said John Manley, chief equity strategist for Wells Fargo Advantage Funds in New York.

The market has been swinging on headlines from Washington for weeks now, with Wednesday's gyrations once again highlighting the importance that Wall Street is giving to finding a solution to avoid the "fiscal cliff."

Liberals want tax increases on the wealthiest Americans to help balance the budget, while conservatives make a case for deep cuts in programs for the poor and a widening of the tax base to raise revenues without raising tax rates.

"Both (Democrats and Republicans) have potential to benefit from compromise. It's just a question of not losing face in the process," Manley said.

Boehner's words triggered a comeback in stocks after the S&P 500 fell 1 percent, partly on weak data on the housing sector.

Shares of Costco Wholesale Corp jumped 5.9 percent to $102.19 after the retailer became the latest company to announce a special dividend ahead of expected tax hikes that are part of the negotiations.

The Dow Jones industrial average <.dji> rose 65.16 points, or 0.51 percent, to 12,943.29. The S&P 500 Index <.spx> gained 4.71 points, or 0.34 percent, to 1,403.65. The Nasdaq Composite <.ixic> added 10.20 points, or 0.34 percent, to 2,977.99.

Housing stocks fell after data showed new U.S. single-family home sales fell slightly in October, while September's pace of sales was revised sharply lower.

The PHLX housing index <.hgx> slipped 0.6 percent, but is still up more than 8 percent in the last eight sessions.

Knight Capital Group Inc shares jumped 13.5 percent to $3.37 on news that Getco Holding proposed a $1.4 billion merger with Knight, while Virtu Financial offered to buy Knight for at least $1.1 billion.

Apparel retailer Express Inc rose 9.8 percent to $14.26 after it forecast strong earnings for the current quarter as lower prices and easy-to-understand discounts led to robust Black Friday sales.

Green Mountain Coffee Roasters stock surged 27.3 percent to $36.86 a day after it forecast quarterly and full-year earnings well ahead of analysts' expectations.

(Reporting by Ed Krudy; Additional reporting by Gabriel Debenedetti; Editing by Jan Paschal)

Read More..

Protesters Gather Again in Cairo Streets to Denounce Morsi

CAIRO — Thousands of people flowed into the streets of Cairo, the Egyptian capital, Tuesday afternoon for a day of protest against President Mohamed Morsi’s attempt to assert broad new powers for the duration of the country’s political transition, dismissing his efforts just the night before to reaffirm his deference to Egyptian law and courts.

By early Tuesday afternoon in Cairo, a dense crowd of hundreds had gathered outside the headquarters of a trade group for lawyers, and thousands more had filed in around a small tent city in Tahrir Square. In an echo of the chants against Hosni Mubarak, Egyptian’s ousted president, almost two years ago, they shouted, “Leave, leave!” and “Bring down the regime!” They also denounced the spiritual leader of the Muslim Brotherhood, the Islamist group allied with Mr. Morsi.

A few blocks away, in a square near the American Embassy and the Interior Ministry headquarters, groups of young men resumed a running battle that began nine days ago, throwing rocks and tear gas canisters at riot police officers. Although those clashes grew out of anger over the deaths of dozens of protesters in similar clashes one year ago, many of the combatants have happily adopted the banner of protest against Mr. Morsi as well.

Egyptian television had captured the growing polarization of the country on Monday in split-screen coverage of two simultaneous funerals, each for a teenage boy killed in clashes set off by disputes over the new president’s powers. Thousands of supporters of Mr. Morsi and his allies in the Muslim Brotherhood marched through the streets of the Nile Delta city of Damanhour to bury a 15-year-old killed outside a Brotherhood office during an attack by protesters. And in Tahrir Square here in Cairo, thousands gathered to bury a 16-year-old killed in clashes with riot police officers and to chant slogans blaming Mr. Morsi for his death. “Morsi killed him,” the boy’s father said in a video statement circulated over the Internet.

“Now blood has been spilled by political factions, so this is not going to go away,” said Rabab el-Mahdi, a professor at the American University in Cairo and a left-leaning activist, adding that these were the first deaths rival factions had blamed on each other and not on the security forces of the Mubarak government since the uprising began last year. Still larger crowds were expected in the evening, as marchers from around the city headed for the square. Many schools and other businesses had closed in anticipation of bedlam, and on Monday, the Brotherhood called off a rival demonstration in support of the president, saying it wanted to avoid violence.

Egypt’s Supreme Judicial Council met again on Tuesday to consider its response to the president, and the leader of Al Azhar, a center of Sunni Muslim learning that is regarded as the pre-eminent moral authority here, met with groups of political leaders in an effort to resolve the battle over the president’s decree and the deadlock in the constitutional assembly, which is trying to draw up a new constitution.

But even as Mr. Morsi met with top judges Monday night in an effort to resolve the crisis, a coalition of opposition leaders held a news conference to declare that preserving the role of the courts was only the first step in a broader campaign against what Abdel Haleem Qandeil, a liberal intellectual, called “the miserable failure of the rule of the Muslim Brothers.” Mr. Morsi “unilaterally broke the contract with the people,” he declared. “We have to be ready to stand up to this group, protest to protest, square to square, and to confront the bullying.”

Mr. Morsi’s effort to remove the last check on his power over the political transition had brought the country’s fractious opposition groups together for the first time in a united front against the Brotherhood. But the show of unity papered over deep divisions between groups and even within them, said Ms. Mahdi of the American University.

“This is not a united front, and I am inside it,” she said. “Every single political group in the country is now divided over this — is this decree revolutionary justice or building a new dictatorship? Should we align ourselves with folool” — the colloquial term for the remnants of the old political elite — “or should we be revolutionary purists? Is it a conflict between the Muslim Brotherhood and the pro-Mubarak judiciary, or is this the beginning of a fascist regime in the making?”

Mayy El Sheikh contributed reporting.

Read More..

Google Breaks All Android App Reviews, Threatens Android Fans’ Safety

“A Google User” is now the number one Android game and app reviewer on Google Play, Android’s version of Apple’s App Store. That’s because every single one of the millions of existing reviews, possibly including yours, has had its author replaced with this nameless, faceless person.

Screenshots taken by Jeremiah Rice of the Android Police blog show this prolific (but completely generic) author has taken over the Google Play store. Meanwhile, if you visit the store on your Android smartphone or tablet you won’t see a name attached to most reviews at all; just the review’s title, and the device that the game or app was run on.

Believe it or not, this is all intentional. It’s the start of a new Google policy … one which may threaten some Android fans’ safety or privacy.

​Google+, whether you like it or not

Google now requires you to have a Google+ (pronounced “Google Plus”) account in order to leave reviews on Google Play, the Chrome Web Store, and Google Maps. No reason for the switchover is given in the pop-up which explains this; you simply click “Continue” if you want your reviews tied to your Google+ account, and if you don’t want them linked you don’t write them at all. If you don’t have a Google+ account, you have to sign up for one before you can write a review.

​Why Google is Plus-ifying everything

Google’s success as a company is determined by how many ads it sells. Google’s share of the ad market is being eaten into by Facebook, which has essentially “walled off” a huge part of people’s day-to-day lives in a place Google can’t index or sell any ads on. For better or for worse, Google’s execs feel that what they need to do to compete is copy Facebook, in the form of Google+.

Why? Because if everyone is “Plusing” things instead of “Liking” them, and if everything people do shows up on Google+ instead of Facebook, then now Google (instead of Facebook) knows what you’re doing online and where you’re doing it — and that gives it a much better position from which to display and sell ads.

​Why this is a problem for many

Besides the obvious privacy concerns (although Google offers limited tools to manage how much it tracks you), Google+’s “real names” policy is dangerous to anyone whose safety is jeopardized by attaching their given name to their online activities. This includes women who are victims of stalking, minors who are victims of abuse, transgender persons in transition, and dissidents in repressive political or religious regimes. By requiring a Google+ account to use more and more of its services, Google is forcing these people to choose between excluding themselves and running the risk of having ​all​ of their Google services terminated for a “real name” policy violation, including their personal Gmail accounts.

Google+ policy allows for pseudonymous accounts, if you’re widely known by that pseudonym online. Everyone’s Google+ page, however, has a button to report what anyone feels is a suspicious name, which puts marginalized persons like those listed above at the mercy of every “troll” who comes by.

Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.
Wireless News Headlines – Yahoo! News

Read More..

Shakira Bares Her Baby Bump

Mom & Babies
Celebrity Baby Blog

11/27/2012 at 02:00 PM ET

Pregnancy does a body good. So good that for Shakira, nine months might not cut it.

Posting a picture to Instagram on Tuesday, the fresh-faced singer bares her bump — it’s a boy! — while snuggling up with her sweetie, boyfriend Gerard Piqué, and admitting she’s living the life of an expectant mama — and enjoying every second of it.

“I could have another 9 months like this!” Shakira, who announced in September she was expecting the couple’s first child, captioned the sweet snapshot.

The laidback look is a far cry from just last month when the mom-to-be, 35, rocked out on stage in an edgy all-black ensemble.

Courtesy Shakira

RELATED: BumpWatch: Shakira (and Baby) Rock Out

Read More..

CDC: HIV spread high in young gay males

NEW YORK (AP) — Health officials say 1 in 5 new HIV infections occur in a tiny segment of the population — young men who are gay or bisexual.

The government on Tuesday released new numbers that spotlight how the spread of the AIDS virus is heavily concentrated in young males who have sex with other males. Only about a quarter of new infections in the 13-to-24 age group are from injecting drugs or heterosexual sex.

The Centers for Disease Control and Prevention said blacks represented more than half of new infections in youths. The estimates are based on 2010 figures.

Overall, new U.S. HIV infections have held steady at around 50,000 annually. About 12,000 are in teens and young adults, and most youth with HIV haven't been tested.

___

Online:

CDC report: http://www.cdc.gov/vitalsigns

Read More..

Wall Street slips on cliff caution, but homebuilders shine

NEW YORK (Reuters) - Stocks declined on Tuesday as wrangling continued in Washington over budget talks, while homebuilders' stocks outperformed the broader market after positive data.

Strengthening the case for a sustained rebound in housing, single-family home prices rose for an eighth straight month in September. The PHLX housing sector index <.hgx> advanced 0.5 percent, with all but one of its 19 components posting gains.

"As long as you have interest rates as low as they are right now, housing is definitely back," said Brian Amidei, managing director at HighTower Advisors in Palm Desert, California.

Despite strong housing data, an increase in planned business spending and a more than 4-year high in consumer sentiment, traders were cautious as politicians in Washington made little progress in dealing with the "fiscal cliff."

Markets have lately focused on whether Congress and the White House can agree on ways to avoid some $600 billion in automatic spending cuts and tax increases that are due to kick in early next year.

"If there's any reason why the (stock) market has stalled out, it's because large investors have decided to step back and see this play out, because I think they're very aware of how important this is," said Hugh Johnson, chief investment officer of Hugh Johnson Advisors LLC in Albany, New York.

The Dow Jones industrial average <.dji> fell 74.53 points, or 0.57 percent, to 12,892.84. The S&P 500 Index <.spx> dropped 5.68 points, or 0.40 percent, to 1,400.61. The Nasdaq Composite Index <.ixic> shed 4.80 points, or 0.16 percent, to 2,971.98.

The S&P 500 was holding at 1,400, a key psychological level it reclaimed last week. Last week, the S&P 500 gained nearly 4 percent.

As budget talks linger, Las Vegas Sands and Supertex added their names to a growing list of companies announcing special dividends aimed at helping investors avoid a possibly higher tax burden next year.

Las Vegas Sands jumped 5.5 percent to $46.46. Supertex rose 3.4 percent to $17.41.

Food maker Ralcorp Holdings shares jumped 26.5 percent to $88.82 after long-time suitor ConAgra Foods sealed a deal to buy it for $5 billion. ConAgra shares gained 4.3 percent to $29.50.

Corning Inc shares rose 6.7 percent to $12.11 after the specialty glass maker said it expects full-year sales of its Gorilla glass, used in smartphones and tablets, to approach $1 billion.

McMoRan Exploration Co shares tumbled 11.8 percent to $8.51 a day after the oil and gas driller gave a disappointing update on a key gas prospect in a Gulf of Mexico well.

(Reporting by Rodrigo Campos; Editibg by Jan Paschal)

Read More..

Japan Expands Its Regional Military Role

Ko Sasaki for The New York Times

Coast guard officials from a dozen Asian and African nations, at right, joined a training cruise around Tokyo Bay aboard a Japanese Coast Guard cutter.

TOKYO — After years of watching its international influence eroded by a slow-motion economic decline, pacifist Japan is trying to raise its profile in a new way, offering military aid for the first time in decades and displaying its own armed forces in an effort to build regional alliances and shore up other countries’ defenses to counter a rising China.

Ko Sasaki for The New York Times

Visiting coast guard officers from other nations snapped photos of the engine room, above, the electronics-studded bridge and 20-millimeter cannon.

Already this year, Japan crossed a little-noted threshold by providing its first military aid abroad since the end of World War II, approving a $2 million package for its military engineers to train troops in Cambodia and East Timor in disaster-relief and skills like road building. Japanese warships have not only conducted joint exercises with a growing number of military forces in the Pacific and Asia, they have also begun making regular port visits to countries long fearful of a resurgence of Japan’s military.

And after stepping up civilian aid programs to train and equip the coast guards of other nations, Japanese defense officials and analysts say, Japan could soon reach another milestone: beginning sales in the region of military hardware like seaplanes, and perhaps eventually the stealthy diesel-powered submarines considered well suited to the shallow waters where China is making increasingly assertive territorial claims.

Taken together those steps, while modest, represent a significant shift for Japan, which had resisted repeated calls from the United States to become a true regional power for fear that would move it too far from its postwar pacifism. The country’s quiet resolve to edge past that reluctance and become more of a player comes as the United States and China are staking their own claims to power in Asia, and as jitters over China’s ambitions appear to be softening bitterness toward Japan among some Southeast Asian countries trampled last century in its quest for colonial domination.

The driver for Japan’s shifting national security strategy is its tense dispute with China over uninhabited islands in the East China Sea that is feeding Japanese anxiety that their country’s relative decline — and the financial struggles of their country’s traditional protector, the United States — are leaving them increasingly vulnerable.

“During the cold war, all Japan had to do was follow the U.S.,” said Keiro Kitagami, a special adviser on security issues to Prime Minister Yoshihiko Noda. “With China, it’s different. Japan has to take a stand on its own.”

Japan’s moves do not mean it might transform its military, which serves a purely defensive role, into an offensive force anytime soon. The public has resisted past efforts by some politicians to revamp Japan’s pacifist constitution, and the nation’s vast debt will limit how much military aid it can extend. But it is also clear that attitudes in Japan are evolving as China continues its double-digit annual growth in military spending and asserts that it should be in charge of the islands Japan claims as well as vast swaths of the South China Sea that various Southeast Asian nations say are in their control.

Japanese leaders have met the Chinese challenge over the islands known as the Senkaku in Japan and the Diaoyu in China with an uncharacteristic willingness to push back, and polls show the public is increasingly in agreement. Both major political parties are also talking openly about instituting a more flexible reading of the constitution that would allow Japan to come to the defense of allies — shooting down any North Korean missile headed for the United States, for instance — blurring the line between an offensive and defensive force.

The country’s self-defense forces had already begun nosing over that line in Iraq and Afghanistan, where Japan backed up the United States-led campaigns by deploying naval tankers to refuel warships in the Indian Ocean.

Japanese officials say their strategy is not to begin a race for influence with China, but to build up ties with other nations that share worries about their imposing neighbor. They acknowledge that even building the capacity of other nation’s coast guards is a way of strengthening those countries’ ability to stand up to any Chinese threat.

“We want to build our own coalition of the willing in Asia to prevent China from just running over us,” said Yoshihide Soeya, director of the Institute of East Asian Studies at Keio University in Tokyo.

Or, as the vice minister of defense, Akihisa Nagashima, said in an interview, “We cannot just allow Japan to go into quiet decline.”

Read More..

Brad Pitt Spent Thanksgiving in London on Set

Only on People.com

By Maggie Coughlan

11/26/2012 at 02:45 PM EST

Brad Pitt

Jean-Paul Pelissier/Reuters/Landov

While most Americans celebrated Thanksgiving with family on Thursday, Brad Pitt spent his holiday with zombies on the set of World War Z in London.

"I didn't know it was Thanksgiving until like midday. Until [the] afternoon," he told PEOPLE in an interview for the coming issue.

"When you're overseas, they don't celebrate it in England. And [Angelina Jolie] and some of the kids are overseas in Cambodia this week, working on the [The Maddox Jolie-Pitt Foundation] there," he said. "It completely escaped me until someone brought me some English pumpkin pie."

Even though Pitt, 48, went without the traditional turkey and stuffing this year, he didn't seem to mind, saying, "That's okay, last year we had a big meal and we don't normally miss things twice."

Still, Pitt was certainly into the spirit of the holiday. He put the entire contents of his wallet, $1,100, into the hands of a fundraiser collecting money for the Southampton General Hospital's neonatal unit, where a friend's son, Zachary Gallagher, had spent the first nine weeks of his life.

"The fundraiser had finished, and I got a phone call from my best friend, who said, 'We have had a small donation.' I thought she was messing about and was going to say, 'My dad's given you a fiver' or something, then she said, 'It's from Brad Pitt!' " Zachary's mother, Karley Gallagher, 23, tells PEOPLE.

"He said that he had seen the fundraiser mentioned in the local papers and seen my fliers and thought it was a really great cause and was just sorry he couldn't have been there," she adds "The silver lining is that Zachary is home and alive. ... To have Brad assist us is more than we could ever have wished for."

While Pitt, in New York Monday for a special screening of Killing Them Softly, plans to fly back to London on Tuesday to continue filming, the Jolie-Pitt bunch is already focused on the next holiday.

Maddox, 11, Pax, 8, Zahara, 7, Shiloh, 6, and 4-year-old twins Knox and Vivienne have already mailed letters to Santa from the village of Littlebourne in rural Kent, England.

• Reporting by MARY GREEN and PHIL BOUCHER

Brad opens up about his family, his life with Angelina and their wedding plans in the next issue of PEOPLE! Look for much more on newsstands Friday

Read More..

Bounce houses a party hit but kids' injuries soar

CHICAGO (AP) — They may be a big hit at kids' birthday parties, but inflatable bounce houses can be dangerous, with the number of injuries soaring in recent years, a nationwide study found.

Kids often crowd into bounce houses, and jumping up and down can send other children flying into the air, too.

The numbers suggest 30 U.S. children a day are treated in emergency rooms for broken bones, sprains, cuts and concussions from bounce house accidents. Most involve children falling inside or out of the inflated playthings, and many children get hurt when they collide with other bouncing kids.

The number of children aged 17 and younger who got emergency-room treatment for bounce house injuries has climbed along with the popularity of bounce houses — from fewer than 1,000 in 1995 to nearly 11,000 in 2010. That's a 15-fold increase, and a doubling just since 2008.

"I was surprised by the number, especially by the rapid increase in the number of injuries," said lead author Dr. Gary Smith, director of the Center for Injury Research and Policy at Nationwide Children's Hospital in Columbus, Ohio.

Amusement parks and fairs have bounce houses, and the playthings can also be rented or purchased for home use.

Smith and colleagues analyzed national surveillance data on ER treatment for nonfatal injuries linked with bounce houses, maintained by the U.S. Consumer Product Safety Commission. Their study was published online Monday in the journal Pediatrics.

Only about 3 percent of children were hospitalized, mostly for broken bones.

More than one-third of the injuries were in children aged 5 and younger. The safety commission recommends against letting children younger than 6 use full-size trampolines, and Smith said barring kids that young from even smaller, home-use bounce houses would make sense.

"There is no evidence that the size or location of an inflatable bouncer affects the injury risk," he said.

Other recommendations, often listed in manufacturers' instruction pamphlets, include not overloading bounce houses with too many kids and not allowing young children to bounce with much older, heavier kids or adults, said Laura Woodburn, a spokeswoman for the National Association of Amusement Ride Safety Officials.

The study didn't include deaths, but some accidents are fatal. Separate data from the product safety commission show four bounce house deaths from 2003 to 2007, all involving children striking their heads on a hard surface.

Several nonfatal accidents occurred last year when bounce houses collapsed or were lifted by high winds.

A group that issues voluntary industry standards says bounce houses should be supervised by trained operators and recommends that bouncers be prohibited from doing flips and purposefully colliding with others, the study authors noted.

Bounce house injuries are similar to those linked with trampolines, and the American Academy of Pediatrics has recommended against using trampolines at home. Policymakers should consider whether bounce houses warrant similar precautions, the authors said.

___

Online:

Pediatrics: http://www.pediatrics.org

Trade group: http://www.naarso.com

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

Read More..

Wall Street falls on caution after rally, retail drags

NEW YORK (Reuters) - Stocks eased on Monday as a mixed start to the holiday shopping season, caution over Greek aid talks and budget discussions in Washington gave investors reason to pause after Wall Street posted its best week in over five months.

While holiday shopping appeared to be off to a good start, analysts cautioned against reading too much into one weekend's numbers. Retailers need to sustain the initial burst through the November-December holiday season, which can account for a third of annual sales and 40 to 50 percent of profits for the year.

Shares in department store operator Macy's Inc , which offered consumers deep discounts on Black Friday, fell 3.6 percent to $40.22. The SPDR S&P retail exchange-traded fund fell 1.3 percent to $62.39.

"The underwhelming performance of retailers in general is hurting the market," said Michael James, a senior trader at Wedbush Morgan in Los Angeles. "Retail is certainly seeing a mixed bag."

Investors continued to chew over two of the greatest overhangs for markets. Euro zone finance ministers and the International Monetary Fund will seek to unfreeze the second bailout package for Greece on Monday. At the same time, U.S. lawmakers have made little progress in the past 10 days toward a compromise to avoid the harsh tax increases and government spending cuts schedule to start in January.

"Friday was a big day in the stock market," said Tim Ghriskey, chief investment officer at Solaris Group in Bedford Hills, New York. "So it's not surprising at all to see some profit-taking on that."

The Dow Jones industrial average <.dji> dropped 88.58 points, or 0.68 percent, to 12,921.10. The Standard & Poor's 500 Index <.spx> fell 8.40 points, or 0.60 percent, to 1,400.75. The Nasdaq Composite Index <.ixic> lost 5.84 points, or 0.20 percent, to 2,961.01.

Total spending for the Black Friday long weekend rose 12.8 percent from last year, to $59.1 billion, from last year, according to the National Retail Federation. That pace was down from the prior year's 16.4 percent increase.

Black Friday's online sales topped $1 billion for the first time ever as more consumers used the Internet do their early holiday shopping, comScore Inc said on Sunday.

Major indexes ended last week with gains of 3 to 4 percent, recovering some of their losses following an 8 percent correction since September. The Dow and S&P 500 both closed above key technical levels for the first time since November 6, which could provide additional support. The Dow ended above 13,000, while the S&P broke above 1,400.

In company news, shares of Knight Capital Group Inc jumped 10.4 percent to $2.75. A source familiar with the matter on Saturday said the company is in talks about possibly selling its market-making operation, its largest and most profitable business, but it is not known if a deal will happen. Knight's chief executive, in an internal memo, said the company currently is in talks with at least two firms on the possible sale of its largest business unit, but would only pursue a deal if it created value for its shareholders and clients.

Qatar has cashed in its remaining warrants in Britain's Barclays Plc , a move that should yield a $280 million profit. The warrants have not yet been converted, but conversion would dilute the holding of shares by other investors. U.S.-listed shares of Barclays fell 5.6 percent to $15.37.

Apple Inc has asked a federal court to add six more products to its patent infringement lawsuit against Samsung Electronics Co , including the Samsung Galaxy Note II, in the latest move in an ongoing legal war between the two companies. Apple shares were up 1.7 percent at $581.

(Additional reporting by Gabriel Debenedetti; Editing by Kenneth Barry and Leslie Adler)

Read More..